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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
According to frontier market investors, frontier assets would actually diversify and reduce risk, which contradicts the general notion that risk would be added by including those markets. [15] Those who have a focus on frontier markets have different views on what the future holds for the inter-correlation of countries within the asset class.
The ban also contributed to a 20% drop in rice production within the first six months. As a result, Sri Lanka went from being self-sufficient in rice production to having to import rice at a cost of US$450 million. [53] By 2021, the foreign debt had risen to 101% of the nation's GDP. [54]
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [42] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [43]
The S&P SL20, or the Standard & Poor's Sri Lanka 20, is a stock market index, based on market capitalization, that follows the performance of 20 leading publicly traded companies listed in the Colombo Stock Exchange.
It is based on market capitalisation. Weighting of shares is conducted in proportion to the issued ordinary capital of the listed companies, valued at current market price (i.e. market capitalisation). The base year is 1985, and the base value of the index is 100. This is the longest and the broadest measure of the Sri Lankan Stock market.
The IMF had agreed to provide a US$1.5 billion bailout loan in April 2016 after Sri Lanka provided a set of criteria intended to improve its economy. By the fourth quarter of 2016, the debt was estimated to be $64.9 billion. Additional debt had been incurred in the past by state-owned organisations and this was said to be at least $9.5 billion.
This article lists the largest companies in Sri Lanka terms of their revenue, net profit and total assets, according to the American business magazines Fortune and Forbes and local business magazine LMD. [1] [2]